Progress to Refocus Business on Platform as a Service, Divest Some Product Lines

Progress Software Corporation announced a new strategic focus in which it will become a provider of a next-generation, context-aware application development and deployment platform in the cloud for the application platform-as-a-service (aPaaS) market, by beefing up investments in its core OpenEdge, DataDirect Connect, and Apama Analytics and Decisions products and integrating them into a single offering.

As part of the plan, Progress says it will divest multiple product lines that are not core to the new vision and launch immediate operational restructuring initiatives to significantly reduce annual costs. The new strategic plan is the result of a five-month evaluation of the company’s product portfolio, business model, capital allocation strategy, customer base and future opportunities.

“Progress pioneered the creation of application development and deployment infrastructure tools, technology and software,” says Jay Bhatt, CEO of Progress. “Our new strategic plan is firmly rooted in this foundation and is designed to significantly improve Progress’ growth and performance. We fully intend to evolve Progress into a leaner company that will help to lead the computing evolution from on-premise to the Cloud.”

Under its new plan, Progress will unify the capabilities of OpenEdge, the Progress Arcade portal, DataDirect Connect, Apama Analytics and Decisions, which consists of Complex Event Processing (CEP), Corticon Business Rules Management Solution (BRMS) and the Progress Control Tower, in the cloud. The company will focus on creating a language-agnostic aPaaS offering with multi-tenancy, big data connectivity, and real-time analytics.